Sunnova reports second quarter losses but more customers and dealers

Sunnova Energy, the Houston-based company that sells and installs residential solar energy systems, reported an increase in customers, a larger dealer network and new solar products in its first earnings call since it became a public company.

Sunnova Energy, the Houston-based company that sells and installs residential solar energy systems, reported an increase in customers, a larger dealer network and new solar products in its first earnings call

Sunnova Energy, the Houston-based company that sells and installs residential solar energy systems, reported an increase in customers, a larger dealer network and new solar products in its first earnings call since it became a public company.

Sunnova Energy, the Houston-based company that sells and installs residential solar energy systems, reported an increase in customers, a larger dealer network and new solar products in its first earnings call

Sunnova Energy, the Houston-based company that sells and installs residential solar energy systems, reported an increase in customers, a larger dealer network and new solar products in its first earnings call since Sunnova became a public company.

The company, which reported on Monday after the markets closed , said it had a net loss of $50.7 million for the second quarter ended June 30 driven largely by higher administrative and depreciation expenses compared to a net loss of $12.6 million for the same quarter one year earlier.

The company reported second quarter revenues of $34.6 million compared to $29 million for the same period one year earlier.

Sunnova received $162.3 million after paying expenses from selling shares in an initial public offering earlier this summer. The company used $57.1 million to repay debt and plans to use the remainder for working capital and operating expenses. Sunnova relies on an independent dealer network to sell and install solar systems.